Used car repair services would be considered an inferior good or service, where as incomes fall, demand increases. So, this actually is not a positive sign for the economy, or GM and Ford. But business is good for repair shops, as people fix up their old cars, rather than buy new. Read more here.
March 5, 2009
One Economic Bright Spot - Used Car Repair Shops
Used car repair services would be considered an inferior good or service, where as incomes fall, demand increases. So, this actually is not a positive sign for the economy, or GM and Ford. But business is good for repair shops, as people fix up their old cars, rather than buy new. Read more here.
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